Indeed Greg, first we have had the emerging markets tremors. Now we have the shakings of a European sovereign debt crisis because the Eurozone is heading (if not in) a recession (within a slump!). A key point to understand is that the cost of servicing the debt (currently over 6% of Italy's GDP), is causing political unease and pressures to do something. Meanwhile Draghi is buying Italian bonds like no business whilst the msm calls it "investor confidence" - now that makes me laugh.
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